Everest Group, Ltd. $EG Shares Purchased by Illinois Municipal Retirement Fund

Key Points

• Illinois Municipal Retirement Fund increased its stake in Everest Group by 40% in the first quarter, adding 3,827 shares and bringing its total holdings to 13,401 shares worth about $4.38 million.
• Institutional ownership of Everest Group remains very high at 92.64%, and several other funds also boosted or initiated positions during the quarter.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $387.73, while the stock recently traded near its 52-week high at $382.76.

Illinois Municipal Retirement Fund raised its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 40.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,401 shares of the company's stock after buying an additional 3,827 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Everest Group were worth $4,380,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EG. Checchi Capital Advisers LLC lifted its position in Everest Group by 10.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,066 shares of the company's stock valued at $348,000 after purchasing an additional 100 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Everest Group in the 1st quarter worth about $1,128,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Everest Group in the 1st quarter worth about $315,000. Chicago Partners Investment Group LLC increased its stake in shares of Everest Group by 58.8% in the first quarter. Chicago Partners Investment Group LLC now owns 1,278 shares of the company's stock valued at $441,000 after purchasing an additional 473 shares during the period. Finally, Lifeworks Advisors LLC raised its holdings in shares of Everest Group by 3.5% during the first quarter. Lifeworks Advisors LLC now owns 2,456 shares of the company's stock valued at $803,000 after buying an additional 82 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

Analyst Upgrades and Downgrades

EG has been the subject of a number of recent analyst reports. UBS Group set a $355.00 price objective on Everest Group in a report on Thursday, May 21st. Morgan Stanley increased their price target on Everest Group from $355.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Evercore set a $375.00 price objective on shares of Everest Group in a research note on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on shares of Everest Group from $411.00 to $414.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company boosted their price target on shares of Everest Group from $356.00 to $373.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $387.73.

Insider Buying and Selling at Everest Group

In related news, CEO Jason Keen sold 775 shares of Everest Group stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $351.84, for a total value of $272,676.00. Following the transaction, the chief executive officer owned 8,170 shares of the company's stock, valued at approximately $2,874,532.80. This trade represents a 8.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

Everest Group Stock Performance

NYSE:EG opened at $382.76 on Friday. The company has a 50-day moving average of $349.83 and a 200-day moving average of $338.94. The firm has a market cap of $15.15 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 0.59 and a beta of 0.29. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $385.69.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Monday, March 23rd. The company reported $16.08 EPS for the quarter. The business had revenue of $4.07 billion during the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. Analysts forecast that Everest Group, Ltd. will post 52.88 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.1%. Everest Group's payout ratio is 16.27%.

Everest Group Company Profile

Everest Group NYSE: EG is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.

Want to see what other hedge funds are holding EG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Everest Group, Ltd. (NYSE:EG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.